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A new U.K.-U.S. trade deal took effect Monday, cutting tariffs on British vehicle and aerospace exports while leaving steel duties unresolved, according to CNBC. The agreement is the first struck since Trump’s reciprocal tariffs policy was announced. It imposes a 10% tariff on the first 100,000 British cars imported annually into the U.S., with a 25% rate beyond that. British carmakers exported about 102,000 vehicles to the U.S. last year, making it their top market. The U.K. auto industry welcomed the move, calling it vital to restoring competitiveness. The U.K.-U.S. trade deal removes duties on British aerospace exports, but talks to lower tariffs on industrial metals are still underway. Prime Minister Keir Starmer called the deal “historic” and essential for protecting jobs and national industries.

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00:00It's Benzinga, bringing Wall Street to Main Street.
00:02A new UK-US trade deal took effect Monday, cutting tariffs on British vehicle and aerospace
00:07exports while leaving steel duties unresolved, according to CNBC. The agreement is the first
00:12struck since Trump's reciprocal tariffs policy was announced. It imposes a 10% tariff on the
00:17first 100,000 British cars imported annually into the US, with a 25% rate beyond that.
00:22British carmakers exported 102,000 vehicles to the US last year, making it their top market.
00:27UK auto industry welcomed the move, calling it vital to restoring competitiveness.
00:32UK-US trade deal removes duties on British aerospace exports, but talks to lower tariffs on industrial
00:37metals are still underway. Prime Minister Keir Starmer called the deal historic and essential
00:43for protecting jobs and national industries. For all things money, visit Benzinga.com.

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